Enbridge to Sell BC Gas Pipeline Stake to Canada Indigenous Groups

Enbridge Inc. plans to sell a stake in a natural gas pipeline system in British Columbia to Indigenous communities in a deal that will be financially backed by the Canadian government.

The government will provide a C$400 million ($286 million) loan guarantee to support a partnership of 36 First Nations in their purchase of a 12.5% interest in the Westcoast pipeline system, which transports gas from Fort Nelson, in the northeastern part of BC, to the Canada-US border.